You want to buy a house that has an upside down mortgage, and give the person 150,000 and pay 60 grand in 2 years. Can you show me the math where you benefit at all here?
What happens with the mortgage? You pay that as well correct?
I mean the loan is not going to magically disappear.
The loan is on the property not the person. I'm sorry I meant loans.
Please telling me I am missing something here.
Are you Bank of America being forced to buy countrywide for 15 billion and all their bad debt?
Sounds to me like you are being taken for a ride on a one way trip.
Whatever you do don't hitch hike, I don't think you will make it back.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992
If the owner is not willing to pay off the current leans, run, run, run!